Aura Energy (AEE) Q2 2025 TU earnings summary

Executive summary

• Achieved a 49% increase in Tiris Uranium Project Ore Reserves to 33.6Mlb U3O8, supporting a 25-year mine life with production expected to start in 2026/27.

• Advanced project funding, engineering, and water supply for Tiris, with due diligence and site visits by RPM Global and Wood commencing EPCM work.

• Swedish government inquiry recommended lifting the uranium mining ban, supporting the Häggån project's future development.

• Raised A$9 million in a private placement, strengthening the balance sheet and introducing Sachem Cove Partners as a significant shareholder.

Financial highlights

• Cash position at 31 December 2024 was A$20.6 million, sufficient for 5.4 quarters of operations.

• Major cash flows for the quarter: A$2.6 million invested in exploration/evaluation, A$8.4 million from placement, A$0.9 million in admin/corporate costs, and A$0.4 million in staff costs.

• Net cash used in operating activities for the quarter was A$1.18 million; net cash used in investing activities was A$2.65 million; net cash from financing activities was A$8.36 million.

Outlook and guidance

• Final Investment Decision (FID) for Tiris targeted for early 2025, with construction and development activities planned for the March 2025 quarter.

• Ongoing project funding discussions and offtake contract negotiations for Tiris.

• Häggån project progressing with exploitation permit application and participation in Swedish uranium mining legislative process.